The Jamaica Public Service (JPS) is raising an alarm that rising fuel prices in the wake of Russia’s invasion of Ukraine will affect the cost of electricity in Jamaica.
This will likely have a significant impact on the energy costs for the manufacturing companies listed on the Jamaica Stock Exchange:
Caribbean Cream (KREMI)
Caribbean Flavours and Fragrances
Consolidated Bakeries (Purity)
Jamaica Broilers Group
Spur Tree Spices
Stationery and Office Supplies
Alternatively, the impact on FESCO could be positive due to the high fuel prices.
Note however that JFP, KREMI and Wisynco have alternative sources of energy. JFP is 100% solar and both Wisynco and KREMI have LNG plants (Wisynco commissioned its plant in 2019 while KREMI is in the process of commissioning theirs)
Disclaimer: This is not financial advice, please consult your financial advisor